HELOC (Home Equity Lines of Credit)
A Home Equity line of credit (HELOC) allows you to establish a line of credit from the equity in your home. You can borrow up to your established limit, anytime, for any purpose and at your convenience. Best of all, there are no closing costs, no annual maintenance fees and no prepayment penalties.
Minimum Loan Amount is $5000
Maximum Loan Amount is $100,000
Overall Limitation is 95% of home value (based on appraisal or evaluation,) less balance of 1st mortgage
5 Years Draw Period
Variable Rate, based on Prime + Margin
Monthly Payment will be calculated at 1% of loan balance at the time of the last draw
Current Rate (80% LTV and less) as low as 4.25% APR*
Ask your local branch manager about Interest Only options!
*Annual Percentage Rate. Rate effective 7/1/17 and subject to change. Rates are based on an index of Prime Rate published in the Wall Street Journal on the last Tuesday of the month plus a margin. IMCU rates change the first of the following month. Rates may vary based on credit scores and CLTV. State Rate requires maximum 80% CLTV and minimum FICO score of 680. Maximum rate is 21%. Subject to credit approval. Owner occupied properties only.
Closed End Home Equity Loans
1st Lien Rate as low as
4.25% APR* for 5 year term
4.50% APR* for 10 year term
4.625% APR* for 15 year term
2nd Lien Rate as low as
4.25% APR* 80% or less LTV
4.75% APR* 80% or less LTV
5.25% APR* 80% or less LTV
*Rate effective 7/1/17 and subject to change. State Rate requires 80% maximum CLTV and minimum FICO 680. A $5,000 loan with a 5-year term at 4.25% APR has payments of $92.65 per month. Longer terms and other rates available. Rates and maximum CLTV vary based on credit score and CLTV. Subject to credit approval. Owner occupied properties only. Consult your tax advisor regarding deductibility
Home Equity Documents & Tools